IMFA records highest ever turnover in FY 2018

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By Our Corporate Affairs Bureau

MUMBAI/BHUBANESWAR: Indian Metals & Ferro Alloys Ltd (IMFA), India’s leading fully integrated producer of ferro chrome today announced Q4 & FY18 results for the period ended March 31, 2018.

Revenue of Rs 443.27 crores vs Rs 483.65 crores, Exports of Rs 378.45 crores vs Rs 406.64 crores, Net Profit of Rs 4.90 crores vs Rs 74.74 crores.Revenue of Rs 1769.26 crores vs Rs 1697.04 crores, Exports of Rs 1506.88 crores vs Rs 1447.37 crores, Net Profit of Rs 186.93 crores vs Rs 249.83 crores

 Operational Highlights of Q4 FY18 vs Q4 FY17, Ferro Chrome production of 61,038 tonnes vs 59,391 tonnes, Sales of 64,252 tonnes vs 56,578 tonnes,Power generation of 257 MU vs 261 MU

 Operational Highlights of FY18 vs FY17, Ferro Chrome production of 2,34,443 tonnes vs 2,35,460 tonnes, Sales of 2,38,807 tonnes vs 2,33,698 tonnes, Power generation of 946 MU vs 1037 MU

 Long Term Debt of Rs 673 crores, Debt:Equity Ratio of 0.56, Final dividend of 100%; total dividend of 150% considering interim dividend declared earlier

 Commenting on the developments Subhrakant Panda, Managing Director & CEO said: “The ferro chrome market has been extremely volatile and Q4 results are a direct reflection of lower prices despite higher production and sales. In this context, the ongoing Q1 FY19 quarter numbers will reflect the positive impact of higher benchmark price finalisation coupled with INR depreciation and a stable Rand. Looking ahead, price realisation during FY19 on average is expected to yield good margins though quarter on quarter volatility may persist.”

 Jayant Misra, Director (Corporate) & COO added: “Our Therubali unit faced an 18 day agitation by outsiders without any prior notice. While the situation has now normalised, during the restart of operations there was a shell puncture of TCP-3 furnace due to the sudden, unplanned shutdown. The loss of production is estimated at 12,000 tonnes and we have initiated the process of registering a claim under the insurance cover availed by the company.”

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